Sustaining beyond crucial levels will form next trend
Intra Day Chart Analysis & Market Outlook
(19-07-2019)
Nifty-Intra Day Chart (18-Jul-2019):- |
| Just click on chart for its enlarged view |
1- Selling between 11637-11677(Immediate Resistances)
2- Sharp fall in last hour
3- Whole day actual trading between 11583-11677
Conclusions from intra day chart analysis
As all the global markets were too much weaker in following manner today morning therefore negative opening of Indian markets:-
1- Dow Jones closed more than 100 points down yesterday after weaker closing of all European markets.
2- Dow Jones's Futures was trading more than 100 points down today morning.
3- Most Asian markets were trading 0.50% to 1.5% down today morning.
4- Most European markets were trading more than 0.50% to 0.80% down during Indian trading hours.
As more than 4 hours fresh selling between 11637-11677 today therefore it will be immediate resistance on Nifty. Next supports of Nifty are as follows:-
1- 11520-11573
2- 11461-11500
Although sharp fall in last hour but lower levels above supports are also lying below today lowest therefore firstly Nifty will have to trade and prepare for next trend between 11461-11706 and finally sustaining beyond this range(crucial levels) will form next trend which should be watched in the coming sessions.